Delta State finance commissioner is upbeat with the state’s N207 billion debt profile
OpenLife Nigeria reports that Delta State Commissioner for Finance, Sir Fidelis Tilije, has described the Debt Management Office (DMO), recent report placing Delta State debt ratio at 8.03 percent as very encouraging.
Sir Fidelis Tilije disclosed this while fielding questions from journalists during the press briefing yesterday, organized by the Ministry of Economic Planning in conjunction with the Ministries of Finance and Information, in Asaba.
According to Sir Fidelis Tilije, despite the Federal Ministry of Finance’s regulatory measure on borrowing by states in which the borrowing ratio was reduced from 40% to 30%, Delta State is still within a positive debt ratio, stressing that the state was in a position to rapidly grow her debt profile.
The finance commissioner declared that Delta State Government was willing to take advantage of the dry season to fund sectors and projects especially those that could not thrive during the rainy season, saying this would go a long way in improving the infrastructural development of the state.
While speaking on funding the 2021 budget, he stated that he was optimistic and hopeful that Delta State had the capacity to generate enough resources to fund the budget.
“We are very comfortable that our debt is off the state and I think its only Delta State that does not have up to 30% debt ratio as all other states are insisting that the ratio be moved back to 40%,” he stated.
Delta State currently has a debt of N207 billion.
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